| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22274 |
| 来源ID | Working Paper 22274 |
| How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output | |
| Kyle Herkenhoff; Gordon Phillips; Ethan Cohen-Cole | |
| 发表日期 | 2016-05-23 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We empirically and theoretically examine how consumer credit access affects displaced workers. Empirically, we link administrative employment histories to credit reports. We show that an increase in credit limits worth 10% of prior annual earnings allows individuals to take .15 to 3 weeks longer to find a job. Conditional on finding a job, they earn more and work at more productive firms. We develop a labor sorting model with credit to provide structural estimates of the impact of credit on employment outcomes, which we find are similar to our empirical estimates. We use the model to understand the impact of consumer credit on the macroeconomy. We find that if credit limits tighten during a downturn, employment recovers quicker, but output and productivity remain depressed. This is because when limits tighten, low-asset, low-productivity job losers cannot self-insure. Therefore, they search less thoroughly and take more accessible jobs at less productive firms. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Consumption and Investment ; Business Cycles ; Labor Economics ; Labor Supply and Demand ; Labor Compensation ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w22274 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579946 |
| 推荐引用方式 GB/T 7714 | Kyle Herkenhoff,Gordon Phillips,Ethan Cohen-Cole. How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22274.pdf（903KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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